Main Street Capital increases the size of its Revolver. The BDC’s future, though, is completely up in the air, as the BDC Reporter calculates what key numbers might look like for the BDC at the end of the first quarter of 2020.
The BDC Reporter describes the terrible, horrible, no good week just passed for the BDC sector, but cannot offer much in the way of immediate hope that we are at a turning point yet. As best we can, we look ahead as the extent of the damage to expect comes – very slowly – into focus. There are elegant solutions available here but will either the Federal government or Wall Street be up to the challenge.
The BDC Reporter analyzes a just-released Main Street Capital press release and seeks to provide some analysis and context about what the BDC is up to in these trying times for lenders and borrowers.
The BDC Reporter sums up another remarkable week for BDC sector prices and looks forward at a time of maximum uncertainty.
We re-publish an article from the BDC Credit Reporter about the bankruptcy of a BDC-financed retailer. However, our principal purpose is to bring readers attention to a trend developing in BDC investing that could have major consequences for years to come, and which could accelerate in the current environment.
In the first in a series, the BDC Reporter digs into the energy sector SIC code by SIC code to determine what current BDC exposure – in aggregate and by individual BDC – looks like at a time when there are grave doubts about the outlook. We start with SIC code 1382: Oil & Gas Explorers.
After the worst week for BDC prices in nearly ten years, the BDC Reporter summarizes what happened and what might be coming next. Not for the faint of heart but necessary reading.
Yet another development at a troubled BDC-financed company that the BDC Reporter has been writing about for a year now. Given that four BDCS – including three public players – have sizeable exposure, we have chosen to republish an article from the BDC Credit Reporter, and provide a preamble explaining why this is a company worth following the progress of.
Two weeks into February and there are 4 new loans in default amongst some of the largest non-investment grade leveraged borrowers, according to S&P Global Market Intelligence. We review which BDCs are involved; to what degree and what this tells us about the private credit industry.
Another week of BDC Earnings Season and another week of a sector-wide price rally. We review the highlights of both, and add some context about longer term trends underway.
A long troubled retailer – whose debt is held by four different BDCs – moves closer to a restructuring or bankruptcy. We review the credit history and look forward to the possible impact on the BDC lenders involved.
A publicly-traded portfolio company which four BDCs have exposure to falls out with its lenders after months of forbearance. We discuss the possible implications for the company itself and its BDC lenders, which include several well known names.
After briefly reviewing price activity for the week in the BDC Fixed Income segment, we discuss a recent Baby Bond issuance and its implications for other players likely to come to market shortly.